(Reopens MDS6)

The report said there was need to mobilise off budgetary resources through various financial and infrastructural institutions in Kerala to complete badly needed major capital projects.

It also stated that events like Brexit and the oil price recession would impact the national economy and have its effect on the state as well.

"We will have to be flexible in adapting to situations that might emerge in the future," it said.

The immediate concern for the Kerala economy was from the risk of NRI remittances dwindling, the report said.

Though the total volume of remittances in Rupee terms had not shown any serious signs of shrinking, once an allowance was made for exchange rate variations, the figures might just belie any optimism, it said.

The fall in rubber price and of other commercial crops has also had an impact on states economy, it said. PTI UD APR SAI MAV

This is unedited, unformatted feed from the Press Trust of India wire.

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